Huntington Bancshares Incorporated [NASDAQ: HBAN] will report earnings after markets close on Friday, January 22nd.
HBAN Earnings Forecast For The Current Quarter
Huntington Bancshares Incorporated [HBAN] is expected to report strong earnings results for the quarter ending in Dec 2020. Consensus estimates give the company expected revenues of $1.25B and earnings per share of $0.29 for Dec 2020. Looking further ahead, the company is expected to report revenue of $1.23B at an EPS of $0.32 for Mar 2021. The estimates represent an upside of 21.80% and 66.15% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
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HBAN Earnings Estimates For The Current Year
For the financial year, Huntington Bancshares Incorporated [NASDAQ: HBAN] is expected to bring in revenue of $4.83B. The returns are nearly $250.0 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for 2020, the estimate put it at 0.71, lower than that of FY19 by -$0.56. Estimates put this year’s earnings growth at -44.10%, 59.20% for the next, and at an annual -2.15% over the next 5-year period. As for sales, forecasts are for an increase of 5.60% in the current fiscal year and a further 21.80% over the following year.
HBAN Price Performance
On Wall Street, Huntington Bancshares Incorporated [NASDAQ: HBAN] finished Wednesday’s session down -1.34% at $14.68. The stock went up to $14.84 at the same session while its lowest single-day price was $14.61. In the last five days, it saw a fall of about -1.48%, Huntington Bancshares Incorporated shares gained by almost 16.23% since the beginning of the year. However, the share price has dropped to as low as -2.91% below its one-year high. On 01/14/21, the company shares recorded $15.12, the highest single-day price it has got to in the last 52-weeks, and a 52-week low was seen on 01/04/21, the same year at $12.41. The company’s shares have inclined by 0.48% in the past year. The 50-day SMA achieved is $12.81 while the 200-day SMA is $10.16. Volume gained to 13.58 million from 10.49 million in the previous session.
Huntington Bancshares Incorporated [HBAN] Valuation Measures
Notably, Huntington Bancshares Incorporated [HBAN] stock cannot be classified as a good candidate in the listing of underestimated low-priced Banks – Regional companies to purchase as soonest possible with the prevailing 12-month PE ratio of 20.73. The measure means the stock is exchanging at a premium as compared to the 12.10x trailing earnings of the industry. It can be helpful for investors to consider the historical price-sales ratio, more specifically, a 4.03 PS value ratio is reported for the last year of reported earnings. That is higher than the industry average of 2.51 which means HBAN serves an unattractive investment opportunity compared to its competitors.
HBAN Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 14.68 level, and in case of violation of this particular level, it will cause more drop to 14.58 level. On the upper level, 15.04 is still the key resistance. The stock may increase to the subsequent resistance at 14.94. The Relative Strength Index (RSI) pinned on the 14-day chart is 69.03, implying a neutral technical stance while the MACD stands at 0.67, meaning the price will decrease in the next trading period. Percent R indicator moved to 15.77%, implying bullish price movement. Stochastic %K at 87.82% suggest selling the stock.
Is Huntington Bancshares Incorporated [NASDAQ: HBAN] a Good Buy Right Now?
It should be noted that HBAN technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 88% Buy in the past month. Data from Huntington Bancshares Incorporated’s Trend Spotter indicated that the signals were Weakest. The stock current average is 12.85 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 11.61 million shares while the medium-term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 10.13 million shares.
What is the short interest in Huntington Bancshares Incorporated?
Short interest in the Huntington Bancshares Incorporated stock has plunged, decreasing by -14.28 million shares to a total of 32.16 million shares on Dec 30, 2020. The interest had seen shares on Nov 29, 2020, stand at 17.88 million, data from Yahoo Finance shows. The increase of 44.4% suggests the stock saw some increased bearish sentiment. The stock’s days to cover moved to short ratio while the shorted shares account for just 3.59% of the overall float for the stock.
Huntington Bancshares Incorporated’s Biggest Shareholders: Who Owns Huntington Bancshares Incorporated [HBAN]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 110,439,455 shares, or roughly 10.80% of the outstanding HBAN shares. This means their shares have reduced by -3,139,605 from the 110,439,455 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, BlackRock Fund Advisors updated stake is worth $819,253,816. Details in the latest 13F filings reveal that Boston Partners Global Investors, acquired their 7.94% stake valued at $742,746,593 while SSgA Funds Management, Inc. added theirs at $667,042,879. During the last quarter, Boston Partners Global Investors, raised 4,326,166 of its shares in Huntington Bancshares Incorporated while SSgA Funds Management, Inc. bought 1,088,533 shares. The Fidelity Management & Research Co’s holdings currently number 44,352,226 shares at $651090677.68. According to the firm’s last 13F report, JPMorgan Investment Management, shares in the company at filing stood at 24,896,398 shares, roughly $314,441,507.
What are analyst thoughts on Huntington Bancshares Incorporated?
Looking forward to the Huntington Bancshares Incorporated share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Huntington Bancshares Incorporated stock at $15.00 within the next 12 months, which represents almost 2.13 percent growth from its previous closing price of $14.68. The highest analysts’ target for Huntington Bancshares Incorporated stock projections is $18.00 and the lowest one is $13.00. Still, 19 analysts sharing their consensus rating for HBAN stock in 2021 agree that it is Overweight.